Commercial Airplane Certification Process Study an Evaluation of Selected Aircraft Certification, Operations, and Maintenance Processes
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ACFN/Netletter News
NetLetter #1348 | August 12, 2016 Rouge Airbus A321 - Hamburg, Germany Welcome to the NetLetter, an Aviation based newsletter for Air Canada, TCA, CPAir, Canadian Airlines and all other Canadian based airlines that once graced the Canadian skies. The NetLetter was created in 1995 by Vesta Stevenson (RIP) and Terry Baker and is published on the second and fourth weekend of each month. If you are interested in Canadian Aviation History, and vintage aviation photos, especially as it relates to Trans-Canada Air Lines, Air Canada, Canadian Airlines International and their constituent airlines, then we're sure you'll enjoy this newsletter. Our website is located at www.thenetletter.net ACFN/NetLetter News We have had quite a few subscribers ask us about our "Obituaries" area which is operated and maintained by the ACFamily Network. We are in the process of doing a major overhaul of the Obituary section and will keep you updated about our progress in future issues of the NetLetter. After the new install is completed, we will need to move all the existing content over to the new site. As far as I know, there are no other web sites where memorial listings are accepted that cover past employees that worked for ALL past (and present) Canadian based airlines. We will link to any other aviation memorial sites that we are made aware of as well. We have 75% of it completed now and are making good progress. Alan Rust ACFamily Owner and Administrator Coming Events "Elvis is in the building" You don't see deals like this very often! $5 for an Elvis Show including lunch. -
2020 Management's Discussion and Analysis of Results of Operations
2020 Management’s Discussion and Analysis of Results of Operations and Financial Condition February 12, 2021 2020 Management’s Discussion and Analysis of Results of Operations and Financial Condition TABLE OF CONTENTS 1. Highlights ...................................................................................................... 1 2. Introduction and Key Assumptions ............................................................... 3 3. About Air Canada .......................................................................................... 6 4. Strategy and COVID-19 Mitigation and Recovery Plan .................................. 8 5. Results of Operations – Full Year 2020 versus Full Year 2019 ..................... 16 6. Results of Operations – Fourth Quarter 2020 versus Fourth Quarter 2019 . 22 7. Fleet ............................................................................................................ 26 8. Financial and Capital Management .............................................................. 28 8.1. Liquidity .............................................................................................. 28 8.2. Financial Position ................................................................................ 29 8.3. Net Debt .............................................................................................. 30 8.4. Working Capital ................................................................................... 31 8.5. Consolidated Cash Flow Movements ................................................... -
2018 ANNUAL REPORT 2018 ANNUAL REPORT | Management’S Discussion and Analysis of Results of Operations and Financial Condition
2018 ANNUAL REPORT 2018 ANNUAL REPORT | Management’s Discussion and Analysis of Results of Operations and Financial Condition 1. HIGHLIGHTS The financial and operating highlights for Air Canada for the periods indicated are as follows: Fourth Quarter Full Year (Canadian dollars in millions, except where indicated) 2018 2017 (1) $ Change 2018 2017 (1) $ Change Financial Performance Metrics Operating revenues 4,246 3,820 426 18,065 16,252 1,813 Operating income 122 133 (11) 1,174 1,371 (197) Income (loss) before income taxes (216) 20 (236) 405 1,286 (881) Net income (loss) (231) 8 (239) 167 2,029 (1,862) Adjusted pre-tax income (2) 68 77 (9) 952 1,165 (213) Adjusted net income (2) 54 60 (6) 677 1,145 (468) Operating margin % 2.9% 3.5% (0.6) pp 6.5% 8.4% (1.9) pp EBITDAR (excluding special items) (2) 543 521 22 2,851 2,928 (77) EBITDAR margin (excluding special items) % (2) 12.8% 13.6% (0.8) pp 15.8% 18.0% (2.2) pp Unrestricted liquidity (3) 5,725 4,181 1,544 5,725 4,181 1,544 Net cash flows from operating activities 360 389 (29) 2,695 2,738 (43) Free cash flow (2) 141 (43) 184 791 1,056 (265) Adjusted net debt (2) 5,858 6,116 (258) 5,858 6,116 (258) Return on invested capital (“ROIC”) % (2) 12.6% 15.3% (2.7) pp 12.6% 15.3% (2.7) pp Leverage ratio (2) 2.1 2.1 - 2.1 2.1 - Diluted earnings per share $ (0.85) $ 0.02 $ (0.87) $ 0.60 $ 7.31 $ (6.71) Adjusted earnings per share – diluted (2) $ 0.20 $ 0.22 $ (0.02) $ 2.45 $ 4.11 $ (1.66) Operating Statistics (4) % Change % Change Revenue passenger miles (“RPM”) (millions) 20,801 19,396 7.2 92,360 -
2020 Annual Report Table of Contents
20 20 ANNUAL REPORT 1. Highlights The financial and operating highlights for Air Canada for the periods indicated are as follows: Fourth Quarter Full Year (Canadian dollars in millions, except per share data or where indicated) 2020 2019 $ CHANGE 2020 2019 $ CHANGE FINANCIAL PERFORMANCE METRICS Operating revenues 827 4,429 (3,602) 5,833 19,131 (13,298) Operating income (loss) (1,003) 145 (1,148) (3,776) 1,650 (5,426) Income (loss) before income taxes (1,275) 172 (1,447) (4,853) 1,775 (6,628) Net income (loss) (1,161) 152 (1,313) (4,647) 1,476 (6,123) Adjusted pre-tax income (loss)(1) (1,326) 66 (1,392) (4,425) 1,273 (5,698) EBITDA (excluding special items)(1) (728) 665 (1,393) (2,043) 3,636 (5,679) Unrestricted liquidity(2) 8,013 7,380 633 8,013 7,380 633 Net cash flows from (used in) operating activities (796) 677 (1,473) (2,353) 5,712 (8,065) Free cash flow(1) (646) 426 (1,072) (3,070) 2,075 (5,145) Net debt(1) 4,976 2,841 2,135 4,976 2,841 2,135 Diluted earnings (loss) per share (3.91) 0.56 (4.47) (16.47) 5.44 (21.91) OPERATING STATISTICS(3) 2020 2019 % CHANGE 2020 2019 % CHANGE Revenue passenger miles (“RPM”) (millions) 2,432 21,403 (88.6) 23,239 94,113 (75.3) Available seat miles (“ASM”) (millions) 6,000 26,431 (77.3) 37,703 112,814 (66.6) Passenger load factor % 40.5% 81.0% (40.5) pp 61.6% 83.4% (21.8) pp Passenger revenue per RPM (“Yield”) (cents) 19.5 18.6 5.1 18.9 18.3 3.0 Passenger revenue per ASM (“PRASM”) (cents) 7.9 15.0 (47.4) 11.6 15.3 (23.9) Operating revenue per ASM (cents) 13.8 16.8 (17.8) 15.5 17.0 (8.8) Operating expense -
Air Canada Reports 2020 Annual Results
Air Canada Reports 2020 Annual Results • Unrestricted liquidity of $8 billion at December 31, 2020 • Total revenues declined 70 per cent due to COVID-19 and travel restrictions MONTREAL, February 12, 2021 – Total revenues of $5.833 billion in 2020 declined $13.298 billion or 70 per cent from 2019. The airline reported 2020 negative EBITDA(1) (excluding special items) or (earnings before interest, taxes, depreciation and amortization) of $2.043 billion compared to 2019 EBITDA of $3.636 billion. Air Canada reported an operating loss of $3.776 billion in 2020 compared to operating income of $1.650 billion in 2019. Unrestricted liquidity amounted to $8.013 billion at December 31, 2020. “With today’s release of 2020 fourth quarter and full year results, we close the book on the bleakest year in the history of commercial aviation, after having reported several years of record results and record growth at Air Canada. The catastrophic impact of COVID-19 and government-imposed travel restrictions and quarantines has been felt across our entire network, deeply affecting all of our stakeholders. It has resulted in a 73 per cent decline in passengers carried at Air Canada during the year and an operating loss of nearly $3.8 billion. Yet, despite a year-long onslaught of bad news, uncertainty and challenges posed by constantly changing requirements, our employees valiantly served our remaining customers professionally and transported them safely to their destinations, operated hundreds of repatriation flights and our Cargo team transported essential Personal Protective Equipment to Canada and around the world. I commend them for their courage as well as for their tireless efforts in these exceptionally trying circumstances to position our company well for when we emerge from the pandemic,” said Calin Rovinescu, President and Chief Executive Officer of Air Canada. -
2020 Consolidated Financial Statements and Notes February 12, 2021
2020 Consolidated Financial Statements and Notes February 12, 2021 2020 Consolidated Financial Statements and Notes STATEMENT OF MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL REPORTING The consolidated financial statements have been prepared by management. Management is responsible for the fair presentation of the consolidated financial statements in conformity with generally accepted accounting principles in Canada which incorporates International Financial Reporting Standards, as issued by the International Accounting Standards Board. Management is responsible for the selection of accounting policies and making significant accounting judgments and estimates. Management is also responsible for all other financial information included in management’s discussion and analysis and for ensuring that this information is consistent, where appropriate, with the information contained in the consolidated financial statements. Management is responsible for establishing and maintaining adequate internal control over financial reporting which includes those policies and procedures that provide reasonable assurance over the safeguarding of assets and over the completeness, fairness and accuracy of the consolidated financial statements and other financial information. The Audit, Finance and Risk Committee, which is comprised entirely of independent directors, reviews the quality and integrity of the Corporation’s financial reporting and provides its recommendations, in respect of the approval of the financial statements, to the Board of Directors; oversees management’s responsibilities as to the adequacy of the supporting systems of internal controls; provides oversight of the independence, qualifications and appointment of the external auditor; and, pre-approves audit, audit-related, and non-audit fees and expenses. The Board of Directors approves the Corporation’s consolidated financial statements and management’s discussion and analysis disclosures prior to their release. -
Air Canada Accidents Dates Flight Number Descriptions
Air Canada accidents Dates Flight number Descriptions 13 June 1964 3277 Vickers Viscount, Fin 638 CF- THT was damaged beyond economical repair when it crash- landed at Toronto after the failure of two engines on approach 19 May 1967 McDonnell Douglas DC-8-54F, Fin 813 CF-TJM crashed and burned on a training flight while making a three-engine landing at Ottawa, Ontario. 11 September 1968 A Vickers Viscount of Air Canada was hijacked by a Cuban passenger 7 September 1969 Vickers Viscount, Fin 629 CF- THK was damaged beyond economic repair by a fire which occurred on takeoff from Sept- Îles Airport 1 March 1970 106 Vickers Viscount, Fin 643 CF- THY collided in mid-air with Ercoupe 415 CF-SHN on approach to Vancouver International Airport 5 July 1970 621 McDonnell Douglas DC-8-63, Fin 878 CF-TIW exploded from a fuel line rupture caused by engine 4 striking the runway in Toronto, Ontario during the first landing attempt. All 109 passengers/crew were killed 26 December 1971 932 McDonnell Douglas DC-9-32, Flight departed Thunder Bay, Ontario for Toronto, Ontario. Hijacker Patric Dolan Critton passed a note 20 minutes before landing that read: "Think. We have fragmentary grenades, and a .38 caliber revolver. 21 June 1973 890 McDonnell Douglas DC-8-53, Fin 822 CF-TIJ caught fire and was burnt out during refueling at Terminal 2, Toronto, Ontario; no fatalities. 26 June 1978 189 McDonnell Douglas DC-9-32, Fin 721 CF-TLV overran the runway in Toronto after a blown tire aborted the takeoff. -
HISTORY of the NIGERIAN PETROLEUM INDUSTRY Oil Was Discovered in Nigeria in 1956 at Oloibiri in the Niger Delta After Half a Century of Exploration
HISTORY OF THE NIGERIAN PETROLEUM INDUSTRY Oil was discovered in Nigeria in 1956 at Oloibiri in the Niger Delta after half a century of exploration. The discovery was made by Shell-BP, at the time the sole concessionaire. Nigeria joined the ranks of oil producers in 1958 when its first oil field came on stream producing 5,100 bpd. After 1960, exploration rights in onshore and offshore areas adjoining the Niger Delta were extended to other foreign companies. In 1965 the EA field was discovered by Shell in shallow water southeast of Warri. In 1970, the end of the Biafran war coincided with the rise in the world oil price, and Nigeria was able to reap instant riches from its oil production. Nigeria joined the Organisation of Petroleum Exporting Countries (OPEC) in 1971 and established the Nigerian National Petroleum Company (NNPC) in 1977, a state owned and controlled company which is a major player in both the upstream and downstream sectors. Following the discovery of crude oil by Shell D’Arcy Petroleum, pioneer production began in 1958 from the company’s oil field in Oloibiri in the Eastern Niger Delta. By the late sixties and early seventies, Nigeria had attained a production level of over 2 million barrels of crude oil a day. Although production figures dropped in the eighties due to economic slump, 2004 saw a total rejuvenation of oil production to a record level of 2.5 million barrels per day. Current development strategies are aimed at increasing production to 4million barrels per day by the year 2010.